CME to revive X-Funds with electronic jolt

Chicago Mercantile Exchange (CME) is reviving X-Funds with
plans to list the contracts on the Globex platform next
month.

The contracts, cash-settled "baskets" of up to four futures
contracts in an index that settle every two weeks, are due to
begin trading on 4 October. The contracts were a failure at
Chicago Board of Trade (CBoT) and were de-listed after just a
few months in 2002. Critics panned the concept as too
complicated for the market. The contracts were also pit traded,
which led some to speculate that X-Funds never appealed to the
growing base of electronic traders.